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作者：Berglund, Nathan R.
作者单位：Mississippi State University
摘要：There is a maintained assumption within the accounting literature that client bankruptcies preceded by clean audit opinions (Type II going concern opinion (GCO) errors) damage an auditor's reputation. Consistent with this view, the PCAOB proposes that stakeholders may use Type II GCO errors as indicators of low audit quality. This study examines audit committee and investor responses to Type II GCO errors. I find no evidence that audit offices with Type II GCOs are more likely to be dismissed,...
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作者：Li, Zhi; Wang, Lingling; Wruck, Karen
作者单位：Chapman University System; Chapman University; University of Connecticut; University System of Ohio; Ohio State University
摘要：We examine how accounting-based compensation plans influence a firm's contracts with its creditors. After granting long-term accounting-based compensation plans (LTAPs) to CEOs, firms pay lower spreads and have fewer restrictive covenants in new bank loans. Mechanisms leading to lower borrowing cost include improvements in debt repayment ability, reduced shareholder-debtholder conflicts, and reduced risk-taking incentives. Creditors view LTAPs as a substitute for monitoring, adjust covenant de...
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作者：Neuman, Stevanie S.; Omer, Thomas C.; Schmidt, Andrew P.
作者单位：University of Missouri System; University of Missouri Columbia; University of Nebraska System; University of Nebraska Lincoln; North Carolina State University
摘要：This study uses insights from tax practitioners and tax authorities to define and develop an estimate of ex ante tax risk that is independent of common tax outcomes studied in prior literature. Validation tests confirm that our tax risk measure (i) represents the predictable and unpredictable uncertainty inherent in the three sources of tax risk (i.e., economic risk, tax law uncertainty, and inaccurate information processing) and (ii) is a construct different from tax avoidance, tax uncertaint...
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作者：Daoust, Laurence; Malsch, Bertrand
作者单位：Universite de Montreal; HEC Montreal; Queens University - Canada
摘要：Auditees can play an active role in influencing staff auditors' professional judgment and skepticism. Yet, although it constitutes one of the main threats to auditor independence, very little is known about the means and extent of auditees' power during the audit engagement. To address this knowledge gap, our study focuses on a specific category of auditees, namely, auditees who have worked as auditors in large accounting firms. We interviewed 36 of these auditees and triangulated our findings...
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作者：Billings, Bruce K.; Moon, James R.; Morton, Richard M.; Wallace, Dana M.
作者单位：State University System of Florida; Florida State University; University System of Georgia; Georgia Institute of Technology; State University System of Florida; University of Central Florida
摘要：The executive compensation literature presumes that shareholders offer risk-averse managers stock options to entice them to take on more risk, resulting in riskier investment decisions and thus a greater return on investment. However, recent empirical work challenges this assumption, and theoretical research even argues that high levels of option-based compensation for generally under-diversified managers may actually lead to greater risk aversion. We evaluate the incentive structure of employ...
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作者：Keskek, Sami; Myers, James N.; Myers, Linda A.
作者单位：State University System of Florida; Florida State University; University of Tennessee System; University of Tennessee Knoxville
摘要：Prior studies use fundamental earnings forecasts to proxy for the market's expectations of earnings because analyst forecasts are biased and are available for only a subset of firms. We find that as a proxy for market expectations, fundamental forecasts contain systematic measurement errors analogous to those in analysts' biased forecasts. Therefore, these forecasts are not representative of investors' beliefs. The systematic measurement errors from using fundamental forecasts to proxy for mar...
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作者：Demere, Paul; Donohoe, Michael P.; Lisowsky, Petro
作者单位：University System of Georgia; University of Georgia; University of Illinois System; University of Illinois Urbana-Champaign; Boston University
摘要：This study provides the first large-sample evidence on the economic tax effects of special purpose entities (SPEs). These increasingly common organizational structures facilitate corporate tax savings by enabling sponsor firms to increase tax-advantaged activities and/or enhance their tax efficiency (i.e., relative tax savings of a given activity). Using path analysis, we find that SPEs facilitate greater tax avoidance such that an economically large amount of cash tax savings from research an...
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作者：Church, Bryan K.; Dai, Narisa Tianjing; Kuang, Xi (Jason); Liu Xuejiao
作者单位：University System of Georgia; Georgia Institute of Technology; University of International Business & Economics
摘要：This paper reports the results of three studies (archival, experimental, and qualitative) designed to examine the effects of auditor narcissism on auditor-client negotiations in China. We contend that narcissistic characteristics fuel auditors' competitiveness and embolden them to stand firm in negotiations, potentially lengthening the negotiation process but leading to more conservative negotiation outcomes. As predicted, our archival results suggest that auditor narcissism is positively asso...
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作者：Davidson, Robert H.; Dey, Aiyesha; Smith, Abbie
作者单位：Virginia Polytechnic Institute & State University; Harvard University; University of Chicago
摘要：We study whether the effectiveness of corporate governance mechanisms varies depending on the characteristics of the executives subject to these mechanisms, namely their psychological type, as proxied by their history of legal infractions. In particular, we examine insider trading, where we can compare the trading behavior of different types of executives in the same firm. We find that recordholder executives, that is, those with prior legal infractions, earn significantly higher profits from ...
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作者：Kim, Chansog (Francis); Wang, Ke; Zhang, Liandong
